Skip to main content

tv   Bloomberg Markets Middle East  Bloomberg  July 11, 2017 12:00am-1:00am EDT

12:00 am
♪ anchor: the return us diplomacy. the u.s. secretary of state attempt to resolve the crisis in the gulf. >> turkey maintains its for thatr, telling bloomberg the demands of the saudi led block are unfair. oil and gas will be at the center of energy for years to ceo of aramco.
12:01 am
>> dozens of jobs said to be on the line in middle and upper management. this is "bloomberg markets: middle east." now seeing asian equities gain ground for a second consecutive session, but not such an exciting session today. markets are rather quiet. we are looking ahead to the u.s. earnings season, not to mention we do have u.s. policymakers speaking, including fed chair janet yellen's report to congress this week. leading gains in volatilities rising in the halfing and sex -- in the hang seng index. the nikkei pushing ahead .5% after 20,000 level.
12:02 am
we do have a weaker japanese yen for a third consecutive session, nearly two-month low. it is still rather muted when it comes to currencies across asia. the kiwi dollar leading declines. we saw week retail spending -- we saw weak retail spending hitting a nerve there. we are also seeing brent to -- treasury yields rebounding in the asian session. we are seeing a mixed debt market for asia. yousef: this part of the world, we are just two unders -- just under two hours away from the opening of the markets. you are looking at a live shot, the sun rising over the dubai international financing center on what looks to be another hot day, even geopolitically.
12:03 am
brenton holding on to some of those gains. we have got the inventories around the corner from the u.n. coming on wednesday. more portly, we're seeing the big banks chip in and downgrading forecast, including bnp paribas and barclays cutting $255 a barrel of -- cutting to $55 a barrel. ahead of the janet yellen speech and testimony, currently at $11 announce. goal remains vulnerable in the current environment. treasuries for gcc bonds tightening. hedge funds have been fleeing the lira, the rent. the s&p gcc recasts what has
12:04 am
been happening. bright green picture overall, gains of 8/10 of 1%. saudi stocks performing well. health care gains as well, up 1.8%. earnings out from extra and saudi arabia gives a flavor about how consumers are doing. 1.2%.er discretionary of real estate relatively a weak spot in all of this. let's check in on the first world headlines from around the world. hasd: another fed official offered evidence that we can expect at least one more u.s. rate rise this year. -- forecasts of another rate hike a reasonable.
12:05 am
-- are reasonable. for going muche more gradually in raising interest rates were holding off on doing that for a while. i am not overly concerned about that because in the u.s., i do that the economy is doing really well based on the latest employment reports. continually -- clearly the economy is strong. david: saudi aramco is set to invest maintain capacity in renewed gas research. the ceo held a conference in istanbul is increasingly by a recent drop in crude prices. he also said the petroleum industry will remain at the heart of global energy premiums. -- the transpacific
12:06 am
trade deal might be making a comeback. the 11 remaining tpp countries will meet in japan on wednesday to determine what options still exist to move the agreement forward without washington. the tpp was assigned february of last year after almost eight years of negotiations. president trump abandoned it soon after taking office. staying in the white house, the president has nominated randolph quarrels to be defense top banking regulator. he was a senior treasury official in the bush administration, and is currently managing director of salt lake city-based private equity firm. is expected to play a pivotal role in carrying on trump's pledge to ease regulatory restraints after the financial crisis. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. ♪ yousef: the u.s. secretary of
12:07 am
state rex tillerson is that in the gulf to resolve the saudi led crisis over qatar. he kicked off in kuwait, meeting the amir who has been playing -- meeting the an -- -- meeting the in ear meeting th -- meeting the in ear -- the in mere -- the emir. they are not sure they're going to strike a deal right this minute. tillerson is going to spend the whole week here talking to the key players to try and sort something out. that some more like they are trying to mitigate the worst and prevented from worsening, and
12:08 am
maybe laying the groundwork for something in the long-term. they too are expecting this to take some time. shery: nothing concrete expected out of this visit, but how strong a message that tillerson's visit itself sends to the region? guest: is a strong message -- it is a strong message. shows that they are taking a greater role after initially leaving it mainly to the kuwaitis. now it is more of a joint effort to the kuwaitis to continue their role as mediator, but with more of the international community getting involved. we had last week or earlier in the year a german foreign minister who had been touring the states and talking to the leaders there. effort is aerson's sign of the international community wants to get more involved to find a resolution. yousef: the other news that comes amid reports of these
12:09 am
and alleged riyadh agreement that was signed in 2013, 2014 between the gulf entities to agree on a certain set of principles as an excellent plan. a saudi press -- as an action plan. a saudi press agency confirmed those. how does this change the dynamics? guest: i think it is part of the campaign to show that qatar is not sticking to that agreement. the agreement was signed. we knew it existed. but there was an agreement to keep it secret. there is a follow-up agreement and 2014, which then also had a supplemental. there are three separate documents, each one going deeper in terms of getting commitments from all the gcc states. it doesn't specify qatar. sayingdi's are basically the qatar -- the saudis are
12:10 am
basically saying they are not sticking to it. yousef: always a pleasure having you on the show. on that note, a reminder you can check out "bloomberg daybreak." you can see the front page story very clearly here, with the key headline being the intrigue of qatar and other key stories watch. you can customize it as well. still to come, keeping up with the times. we speak to this with computer accessories maker logitech about the changing tech landscape. is it going to be keyboards and mice for years to come, or not? shery: next, turkey's high-stakes scheme. our interview with the deputy prime minister about the implications of support for qatar. this is bloomberg. ♪
12:11 am
12:12 am
♪ shery: this is "bloomberg
12:13 am
markets: middle east." i'm shery ahn and hong kong -- in hong kong. yousef: let's pick up on the story around qatar. the deputy prime minister of turkey is calling for dialogue over the crisis. he said he is hopeful of a peaceful resolution as a u.s. secretary of state rex tillerson thathed himself diplomacy launched attempts at diplomacy. >> while we believe -- launched attempt at diplomacy. >> we advocate dialogue, and we continue to call on all our partners, our brotherly , to peaceful dialogue. we hope that this will work out sooner rather than later. we also, of course, try to such political
12:14 am
differences from having a big impact on economic relations, on investment and trade. i think turkey has been successful in that sense. i will give you two examples. we had a big backlash from the russian side, but turkey has fallout.ding a big track towe are back on precrisis level. remember big fallout with israel. there is a big crisis with israel -- there was a big crisis with israel. avoidedpens is that we a big fallout for investment and trade. applies even more comfortably to gcc countries. we have strong ties with all these countries.
12:15 am
yes, we think qatar should be treated in a more fair fashion. but we don't want any fallout when it comes to trade investments. i'm sure we can manage that. reporter: are you at all concerned that your relationship haveqatar will one day implications on you and sanctions on turkey? >> i doubt it because, first of all, turkey is not alone in thinking that qatar should be treated more fairly. secondly, there is absolutely no .rounds, no justification why i think turkey is a respectable player. we want peace, stability, and prosperity in our region. turkey is by far doing the biggest combat against isis.
12:16 am
you put turkey, as aside proxy wars, turkey is the only country with boots on the ground effectively combating extremism. we push them from our border. week, and away, liberated 2000 square kilometers of syria. we work with our international allies, with coalition partners, with all the major players, and containing -- in containing. no question about it. shery: that was the turkish deputy prime ministers speaking with bloomberg. doubts whether the state secretary of the united states' trip will produce anything in terms of a revolution with qatar -- a resolution with qatar. professor, thank you so much for joining us. i think you are not the only one
12:17 am
skeptical about any sort of resolution here. we have even heard from the state department itself that they are very skeptical. what sort of outcome should we expect out of it? what is goingse to happen is this is going to be the beginning of a long series of shuttles backwards and forwards. have one sideu making demands which the other side, i would have thought almost none of them could be complied with without an enormous loss of sovereignty. i don't think the qataris are prepared to put up with that. are not prepared to be some sort of -- i'm exaggerating -- but sort of facile of saudi arabia -- of
12:18 am
vassal of saudi arabia. let mepeter -- yousef: pick up on that, peter. finding af face-saving agreement, tillerson is going to the region and is sitting down with a lot of these leaders. will what a face-saving agreement actually look like? can you have one if you have quartered yourself and boxed yourself in as they have? guest: frankly, i doubt it. there are certain givens in the qatari situation. i don't see why they should be told to dismantle that sort of quasi-free press. they cannot change their relationship with iran because iran and qatar share the largest liquid natural gas field in the world. it is kind of fact of life. they have to get on.
12:19 am
as far as supporting terrorism is concerned, one man's terrorism is another man's freedom fighter. for example, the saudis and opposed are very much to the muslim brethren, who turkey supports, whom qatar supports, who are not already prescribed list, who have formed the government in places like morocco and jordan and so on. it is very difficult. i think the only thing is some sort of climbdown on the saudi emirati side. is tillerson can somehow make that, good luck. we just heard from the turkish deputy prime minister. the fact is the regional players are taking active steps to shape this negotiation in a way that
12:20 am
is advantageous to their interests. how does that obligate the negotiations? -- complicate pboc asians? -- complicate the negotiations? guest: i am that sure what that might mean in practice, but the idea that somehow the saudis and are going to dictate to the turks their foreign policy, it really almost beggars belief. you can imagine that some of these parties would try to make some sort of quiet approach. the real problem, i think, is it is not -- i don't think it is a situation where tillerson can go along and say to the countries that to the qataris -- to the
12:21 am
qataris, why don't you do this and that? almost all of it is unbelievably unreasonable. peter, if you were a betting man, how long is this going to take to fix? guest: i really don't know. i would think months rather than days. be -- theys got to have got to moderate their demands or drop them. it has to be made up to seem as , whichhow they haven't in the circumstances, is really rather difficult. yousef: lovely speaking with you. thank you for coming on the show. visiting research professor at the middle east institute at the national university of singapore. still to come on the program, we will talk about what nomura is doing in terms of this part of the world.
12:22 am
their views as to how things are unfolding in terms of geopolitics. find out which assets stand to win in which one will be in the losing basket, especially with no signs of the dramatic standoff dying anytime soon. this is bloomberg. ♪
12:23 am
12:24 am
shery: let's get a quick check of the latest business flash headlines. sources tell us saudi arabia's third-biggest mobile operator is reaching an agreement to sell phone towers. saudi arabia is planning to celeron 7000 -- sell around 7000 mobile towers. financingy is raising for the deal, which could be completed by the end of the year. saudi arabia has approved aramco's plans to build an industrial city. the kingdom's cabinet agreed to
12:25 am
allow land to the state-run oil company and manage its assets. to spend about $10 million on the project over the next 10 years. is movingsed carrier to streamline after years of rapid growth. long-hauls biggest airline is scaling back senior cabin crew, as well as administration and i.t. staff. because began in the last few weeks and affect middle and upper level managers. ♪ united states secretary of state rex tillerson is in the gulf to big to resolve the qatar crisis. how are the various asset classes holding up? managementis more asset analysis ceo. initial context, in terms of
12:26 am
what institutional investors have been doing with qatari stocks, got into the bloomberg with me -- dive into the bloomberg with me. see the gcc institutions and golf institutions have been net sellers of qatari stocks -- golf institutions at -- gulf institutions have been net sellers of qatari stocks. what is your take on investing and qatari assets right now? guest: the markets are about 1000 points from the 10,000 point level when the news came out about month ago. it seems to have stabilized over recent days. i think until there is greater for theon the outlook current situation, it is very difficult for investors to get excited about buying or selling at these levels because clearly, they are depressed relative to where they were just a few weeks ago. shery: so far qatar seems to be able to weather the impact from the isolation.
12:27 am
they are getting food imports from iran and turkey. how sustainable is this? guest: it just really depends on how long the situation is maintained. businesses have been hit across the region. clearly qatar businesses have suffered, but also more generally across the region, exports into qatar from neighboring countries have lost opportunities. i think from a macro perspective, the current situation is not great, and hopefully it will be resolved shortly. stay with us because we want to come back to you and talk more about oil, and saudi aramco. we are seeing crude oil gain 4/10 of 1%. aramco's ceo explaining investments of billions over the next decade. more details coming up next on
12:28 am
the program. to stay with us. this is bloomberg. ♪
12:29 am
12:30 am
anchor: is a: 30 in the morning in dubai that it is 8:30 in the morning in dubai, about 30 minutes before trading in that market. these are your first word news from around the world. let's get started with u.s. secretary of state rex tillerson, and the gulf to resolve the saudi led crisis in qatar. he will shuffle between capitals attending to bridge a gap between the two sides. it was washington in a fairly difficult position. qatar holds the regional headquarters come saudi arabia is a top buyer of american arabia --, while saudi
12:31 am
is a top buyer of american weapons. dhabi'sdie these -- abu -- the fund increases its holdings from 5% 6.just over 8% on july shares have almost doubled since hitting a low in early june. there are more than 60% -- state ofgton, report the government has scrapped a -- "the washington post" says a search was formally canceled on tuesday. sites in maryland and virginia were announced in 2014, but the choice was delayed multiple times. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries.
12:32 am
shery: another strong day for markets across asia. gaining the most in more than a month, let's get the details. it is certainly looking very green here on the gmm function. trading volumes are incredibly low, so we are not seeing a lot of investors didn't into the market. .ong kong leading the gains insurance stocks up for the second day in a row. having a look at currencies, we had data coming through out of the region. a little disappointing in new zealand, which has seen the kiwi fall wiped them elegantly against the dollar. fall quite -- significantly against the dollar. in terms of the aussie dollar, just a little stronger, up by about 1/10 of 1%.
12:33 am
we did see business conditions rise to their highest levels , but consumers confidence dipped. ,teel is moving the market flowing back into china after it resumed trade. morgan stanley saying the fact that it is going to pay $9.3 billion. for run the groups -- billion for wonder groups theme park. we are seeing a lot of pachinko players in tokyo under pressure. that japaneseorts police department plans to restrict the number of pitching go -- pachinko to counter the gambling issue they see their, according to the nikkei. and goldman sachs saying if we -- we could actually
12:34 am
see crude oil below $40 a barrel. we see that .5% drop yesterday. at the moment, the wti contract fairly flat. having a look at what is moving, you are seeing energy players up about --that of the by up by about 4/10 of 1%. saudi aramco is to invest more than $300 billion over the next decade in search for new gas reserves. the ceo sounded a dire warning about oil supplies. let's get more on this from dobby -- from abu dhabi from bloomberg. it is hard not to read those statements as a business
12:35 am
defending its business model ahead of what is going to be a very important time for the company and saudi arabia itself. it does speak to a really big dispute in the energy market right now on the timing of peak oil in terms of supply and demand. have hade hand, you stunning growth in alternative and renewable energy sources over the past few years. pulled theguably timing of peak oil closer to us. on the other hand, you have had ultra low oil prices which have harmed some of the energy majors' plans for capital investment. that potentially means something for supply. these are arguments that investors in listed. oil majors have been discussing and thinking about them for a long time. i don't think anyone has exactly the right answer here just yet. you can see that reflected on the corporate side. the saudi aramco ceo was saying they are still going to invest a lot of money in renewable and
12:36 am
solar as well, really hedging their bets. we also has a very big news for abu dhabi and the wider gulf, adnoc looking to sell shares. are they taking a leaf out of saudi aramco's book? guest: is a good question -- reporter: it's a good question. there is one key difference between this but it's and what we are seeing from saudi aramco. saudi aramco is selling shares of the holding company level across the entire business. adnoc says it was to sell some minority stakes in its services as this is in particular -- it's service businesses in particular. oman is saying it is looking to list some downstream energy assets. there is speculation that kuwait could do something similar. what is interesting about the adnoc announcement is that it is not just about the potential shares sale. they are also saying they want to ramp up the partnerships they have with international energy companies across a variety of
12:37 am
businesses, things like after chemicals, refining, pipelines, storage. that is where did interesting. if you've and about one of the reasons adnoc is doing this is to open itself up to more investments, foreign and direct investment, getting expertise into technology into the emirate when they are trying to diversify the economy, that striking these partnerships across a range of businesses, really inserting adnoc and the attitude of the economy -- the attitude of the economy -- the abu dhabi economy is one way of doing that. it makes average of the -- it -- it makes abu dhabi more connected. yousef: saudi aramco plans for what could be the largest ipo,
12:38 am
when it comes down to is commitment to reform. part of the broader saudi thinking here to diversify a way to independence on oil. story look at the saudi -- we were on the set here and you were impressed by the commitments to those reforms -- now the reversal on some of these reforms, how does that change your view of where the saudi amaga economy -- the saudi economy goes? i am still impressed with the reforms, or at least the plans to reform. it is something that will be of limited. my concern -- implemented. my concern is the time lag between the announcements and the implementation, and also the effectiveness of the execution. those factors make me somewhat cautious for the next year because there is inevitably going to be a difference and a time lag between what is wished
12:39 am
for and what actually happens. yousef: investors need to get their heads around the economic and corporate story. in terms of some of the key in key industry's training, i can show you on the bloomberg. this is over a. bank -- a period of one month. of what sets the tone for the quarter we are now in the early part of, where do you expect this story to go in light of what we just discussed, where the economy is and where the reforms are? guest: consumers will be very cautious because we had salary cuts and benefits withdrawn last year. those have been reversed, but the psychology has changed. consumers now are aware that these may be taken away or they may have to save. i think notwithstanding the reversal in that particular
12:40 am
policy, there is a little more caution from the investment, as well as consumer spending. i am somewhat cautious as we get into the years and. we have seen -- he years and -- afjdkla;sjfksdla;jf -- a different picture from a we talked here last time about olympic. -- aboutt a month ago a month ago. guest: it is both. you have a situation where over the last month of there has been increasing geopolitical tensions.
12:41 am
oil prices have fallen about 10% from their year-to-date average. you have seen foreign-exchange reserves decline. you are seeing economic growth stalling. corporate profit outlook is clouded. interest rates have been rising. you have a number of factors which have deteriorated over the past four to six weeks. that inevitably will lead to higher volatility, greater uncertainty, and probably a probably down as we go to the year-end. shery: we have a new crown prince, and we know his foreign-policy has been fighting a proxy war with iran and yemen. we have the qatar situation. how does that cloud your outlook for the kingdom? guest: as i said, it adds to the uncertainty. i think more generally for investors looking into the wider region, this kind of
12:42 am
geopolitical news does cause unease. i think it can be offset by positive economic developments. as we just discussed, those are not likely to be seen this year. to that extent, it is very difficult to get motivated about buying into the region at current levels in the current environment. yousef: we have seen downside pressure on crude oil, which is key to the saudi ego story -- oaudi ego story -- saudi ec saudi -- saudi ecostory. guest: our expectation was that prices would rebound to $60. that has not happened. we got into the 50's and have come off sharply since. the market is telling us something. to what it is what tracy alluded
12:43 am
to earlier. that is that there are now alternative sources of energy. the electric vehicle revolution is now worrying some investors. you have seen news out of the low recently that they intend to go all electric by 2019. toyota, volkswagen am a they are all accelerating their programs to electric vehicles. that is another reason playing into the oil story at the moment. yousef: goldman sachs also saying hours ago that oil may drop below $40 a barrel as opec is put to the test. always great to have you on the program. shery: coming up, tech companies are putting out new phones, tablets, and computers at a dizzying pace. how kenexa three makers keep up? -- how can access three makers
12:44 am
keep up -- how can accessory makers keep up? ♪
12:45 am
12:46 am
♪ fitch: abercrombie & plunged after talks with potential buyers. months ofollows speculation that abercrombie must be acquired by express or american eagle. it was the mainstay of college fashion and the 1990's and early 2000, but has lost it's a lower. it has been -- it's the lower -- allure. one former audi manager was
12:47 am
arrested in munich last week. best buy saw the most in more than a year after amazon introduced a business that threatens its geek squad. it is designed to help customers install and configure interconnected products. services account for about 5% of revenue at best buy, which acquired the squad more than a decade ago. the growth of new mobile platforms globally has fueled the matt forte logitech -- fueled demand for logitech's expertise. it is not surprising that analysts have become increasingly bullish on the company, whose stock is up more than 40% this year. the ceo is the keynote speaker is a conference in hong kong. he joins us in the studio. thanks so much for coming in. i have to talk to you. i booked an interview with you because i thought logitech,
12:48 am
sure, it is keyboards and mice. yourhen you go into company, and it is amazing. stock price doubling the last year, quadrupling since you have been ceo. what differentiates you and your company? guest: we have always been a technology company. we will always be a technology company. what have been different since we came in as we got a lot more emphasis on design, which is putting the user in the middle of everything. we have used that to enter more and more categories. we have gone from 13 or 14 categories when i started to 22, 23 today. we are going to keep doing that. with more categories and more brands. 15% growth over the last four years. shery: you were speaking about this thinking while you are here in hong kong. how has the launch of the ipad change the game for you? guest: the ipad was a turning point for the company. the ipad was also the beginning of where the pc starting to
12:49 am
crest and flatten. our business grew on the back of the growth of the pc for 25 years, and was surrounded it with products. the ipad launch was a wake-up call. we woke up and said we are not about the ipad in the pc. we are about enabling services. we enable people to use their ipads and pcs, and we love those businesses today. increasingly rare are entering categories where we are and emily crowd based -- cloud-based services -- enabling cloud-based services. yousef: in terms of the performance of the company stock, we put this up on the bloomberg for our clients. stoerms of how logitech ck has outperformed the performance index by a wide margin, i want to know from you what the future looks like. at the moment i am still using a keyboard and mouse. how is that going to change? guest: i fully expect the keyboard and mice will still be
12:50 am
present. if everybody watching us right now has a keyboard and mouse on their desk, i think that is going to continue for a very long time. i think the big opportunity for us is to not just to do those categories, but to keep entering all the new categories. arecloud-based services enabling virtually everything around us to be connected and be reinvented. we can play a role in those. yousef: while we expand on a little more in terms of your water thoughts of the industry and where innovation goes from here. what is keeping you up at night in terms of that excitement you have, just like when you get a new product and can't wait to open it and try it out with mark -- try it out? guest: that's exactly how i feel, like a kid in a candy store. the candy store is logitech were have great hardware, great software, and great design. now we can apply that to almost anything. it is just super exciting.
12:51 am
we are literally reinventing categories we were already in, like the clicker, which is now growing rapidly. we are also intrigued new categories like in-home cameras, and going more deeply into things like gaming. there are so many opportunities for us right now that it really is exciting. what keeps me awake at night is nothing about the external environment. as your chartt, shows, we have had good performance from the stoxx from a growth standpoint, from a profit improvement standpoint. the real worry she we -- worry we should have is that we get complacent, that we don't keep that incredibly hungry drive that got us here. i am confident we won't let that get to us. that is what gets to most companies sooner or later. shery: this is the function sdlc go on the bloomberg terminal. you go into logitech and see that you have about 29 customers , amazon, walmart, and also .hese asian customers, noble
12:52 am
when you talk about all these products, is there a difference to what sort of products are in high demand here among asian customers, where you see growth? guest: i think most of the categories we are in our consistently grown around the world. is you said what is really different and asia, we have incredible growth in our dating business in china, for example. that is pc gaming. it is gaining off the cloud. you are playing on games that are on servers somewhere being accessed by thousands, millions of people around the world. you can play simultaneously at very low cost with people all over the place. gaming is one category that has really done on takeoff mode. we have lots of other categories that continue to do well, including the pc category. shery: 24% of your revenue is from asia. will that increase in the next few years? guest: i would be dramatically surprised if that didn't
12:53 am
dramatically increase. shery: overcome the u.s. and europe? guest: yes. asia should be our strongest growth region. shery: thank you so much for joining us in the studio, ceo of logitech. yousef: just a couple of lines in the bloomberg, we just learned that the new york health services company cigna has ended its purchase of zurich's middle east insurance -- completes its purchase of zurich insurance middle east. well.has named a ceo, as cigna is up strongly so far this year, just under 25%. still to come, we will go through the opening and is part of the world. we also look to europe and the
12:54 am
united states to see what is in store for that trading day. this is bloomberg. ♪
12:55 am
12:56 am
♪ shery: welcome back. the market is soaring, gaining the most in three weeks. , where the gains in asia just under an hour away from the opening. we will see what progress the u.s. secretary of state makes as he tours this part of the world, also gulf navigation -- gulf-based navigation. the proceeds from the islamic bonds will be used for asset purchases. gulf navigation plans to double its fleet size by 2020. they expect to boost revenue by 300% in 2021. stock last trading at 1.41 a share. saudi arabia mining company is
12:57 am
another one that started production at its joint venture project. thatwere gradually went up gradually ramp up the ammonium phosphate unit -- gradually ramp up the ammonium phosphate unit. this one is quite popular with analysts. saudi arabia's mobile telecommunication company nears an agreement to sell around 7500 mobile phone towers to lebanon's tcscc -- lebanon's towers. closely watch how the stock response to that news. they have approached banks to raise financing for the deal. the sale could be completed by the end of the year.
12:58 am
for thisl we have edition of "bloomberg markets: middle east." shery: other headlines and a breakdown of the markets coming up next. this is bloomberg. ♪
12:59 am
1:00 am
anna: the u.s. secretary of state has a bid to end the standoff between qatar and a saudi led bloc. the dispute mustn't impact trade. >> we do not want any fallout when it comes to trade. and i am sure we can manage that. manus: watching over wall street . in an arduous search to fill the post for the fed. anna: brexit uncertainty is draining optimism. suspende, theresa may

24 Views

info Stream Only

Uploaded by TV Archive on